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All Letters

All Letters
90-4 OETF PDF Image; Sections 4(a) and 4c and Regulation 32.11; No-Action
The Off-Exchange Task Force granted no-action relief to Salomon Inc (SI), Salomon Brothers Inc (SBI) and Philbro Energy, Inc. (PEI) to permit the execution and performance of light sweet crude oil contracts and related crude oil transactions by SI, PEI, and the Trustee acting on behalf of the Trust (which will issue certificates of beneficial interest [Trust units] to investors, the proceeds of which will be delivered to PEI in exchange for crude oil contracts which will be deposited in the Trust), and the Advisor (engaged by the Trustee), and the offer and sale of, and secondary market transactions in, Trust units by SBI and others.
90-4 DEA PDF Image; Section 4a(1) and Regulations 150.2 and 150.3; No-Action
The Division of Economic Analysis granted no-action relief to Mint Investment Management Company and Northfield Trading L.P. to the extent that two entities together may maintain maximum net positions of twice the speculative position limits contained in Reg. ?150.2. However, the no-action position is conditioned upon neither individually exceeding the applicable spot-month, single-month, or all-futures speculative limits and upon both in the aggregate not exceeding the applicable spot-month limit.
90-02 PDF Image; Section 4c and Regulation 34.2; No-Action
Since the regulatory supervision provided by the Banking Department of the State of New York to branches and agencies of foreign banks it licenses to conduct the business of banking in the state of New York is comparable to the regulatory supervision provided by U.S. federal banking authorities to the U.S. branches or agencies of foreign banks as contemplated by Regulation ?34.2(a)(1)(vii), the Off-Exchange Task Force granted no-action relief to permit any branch or agency of a foreign bank located within the state of N.Y. which is licensed, regulated, supervised and examined by the Banking Department to market and sell hybrid instruments in compliance with the requirements of Part 34 except for the requirements of Reg. ?34.2(a)(1)(vii) concerning the regulation, supervision or examination of such branches or agencies by U.S. federal banking authorities.
90-09 PDF Image; Regulation 1.55; No-Action
The Division of Trading and Markets provided relief to the London branch of a U.S. FCM from delivering to its non-U.S. customers the Commission’s specified risk disclosure statement, since U.K. law provided for the dissemination of a comparable risk disclosure statement. (T&M)
90-14 PDF Image; Regulation 30.10; No-Action
The Division of Trading and Markets permitted a U.S. IB and a U.K. firm to hold meetings in the U.S. with 12 large institutions in order to discuss investing in financial futures traded on the London Exchange, without the U.K. firm having to register as an FCM. (T&M)
90-18 PDF Image; Regulation 4.21; No-Action
The Division of Trading and Markets permitted a CPO to accept additional subscriptions to its pool from the pool’s sole limited partner without first having to deliver a Disclosure Document. (T&M)